When deciding where to shop for groceries, which of these – overall value, low prices, promotions, loyalty rewards – affect your decision? We’ve posed this question to consumers since 2022. One of the most interesting observations is the difference in responses between baby boomers (the generation with the most wealth) and Generation Z (the generation poised to be the most wealthy in the near future).
Even when accounting for sample size (which might impact quarterly results), the long-term trend indicates that Gen Z prioritizes low prices and overall value when choosing where to shop for groceries. Great promotions/sales and store loyalty/rewards programs have been less of a driving factor, but both are on an upward trajectory as of early 2024.
Gen Z’s focus on affordability and overall value highlights their cost sensitivity, as well as an interest in balancing price and quality. And even though this demographic group currently places less importance on promotions and loyalty rewards, their shopping habits and preferences are still developing, giving brands an opportunity to build strong relationships and trust with Gen Z shoppers.
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